Published on 9/17/2020 in the Prospect News Emerging Markets Daily.
New Issue: China’s Contemporary Ruiding issues $1.5 billion bonds due 2025, 2030
By Wendy Van Sickle
Columbus, Ohio, Sept. 17 – Contemporary Ruiding Development Ltd. issued $1.5 billion of bonds in two tranches guaranteed by Contemporary Amperex Technology Co., Ltd., according to a Hong Kong Stock Exchange notice.
The company issued $1 billion of 1 7/8% bonds due 2025 and $500 million of 2 5/8% bonds due 2030.
HSBC, BofA Securities, ICBC International and CMB International are the bookrunners and joint lead managers. Additional joint lead managers include Barclays, Bank of China, CCB International, China Citic Bank International, China Everbright Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, China PA Securities (Hong Kong) Co. Ltd., Citigroup Shanghai Pudong Development Bank Hong Kong Branch and Standard Chartered Bank.
The battery manufacturer and technology company is based in Ningde, China.
Issuer: | Contemporary Ruiding Development Ltd.
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Guarantor: | Contemporary Amperex Technology Co., Ltd.
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Issue: | Bonds
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Amount: | $1.5 billion
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Bookrunners: | HSBC, BofA Securities, ICBC International and CMB International
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Lead managers: | HSBC, BofA Securities, ICBC International, CMB International, Barclays, Bank of China, CCB International, China Citic Bank International, China Everbright Bank Hong Kong Branch, China Minsheng Banking Corp., Ltd., Hong Kong Branch, China PA Securities (Hong Kong) Co. Ltd., Citigroup Shanghai Pudong Development Bank Hong Kong Branch and Standard Chartered Bank
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Listing date: | Sept. 18
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2025 bonds
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Amount: | $1 billion
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Coupon: | 1 7/8%
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Maturity: | 2025
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2030 bonds
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Amounts: | $500 million
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Coupon: | 2 5/8%
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Maturity: | 2030
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